Paxos Seeks Federal Banking Charter After $48.5 Million Regulatory Settlement

TLDR Paxos has filed for a US national trust bank charter, renewing efforts after a previous 2021 approval lapsed The charter would allow Paxos to operate nationwide under OCC oversight The application follows recently passed stablecoin legislation (GENIUS Act) Paxos recently paid a $48.5 million settlement related to its Binance partnership Circle and Ripple have [...]

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